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CDFA Energy & Water Finance Update - June 18, 2019

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CDFA Energy and Water Finance Newsletter
June 18, 2019
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Energy & Water Finance Update


USDA Announces $858M in Loans for Rural Electric Infrastructure
U.S. Department of Agriculture announced that it is providing $858 million in loans to upgrade rural electric systems in 17 states, including AK, AZ, GA, KY, MI, MN, MS, MO, NC, ND, SC, SD, TN, TX, UT, VA, and WV. The funding includes $64 million to finance smart grid technologies that improve system operations and monitor grid security.

2019 Midwest Floods: EPA-FEMA to Support Recovery of Water Infrastructure
The U.S. Environmental Protection Agency (EPA) and the Federal Emergency Management Agency (FEMA) announced a Memorandum of Understanding (MOU) to streamline coordination between FEMA and the EPA-funded State Revolving Fund (SRF) programs. Now, the funding used to restore vital water infrastructure can be provided quicker in times of disaster.

MI Utility Issuing Bonds to Transition from Coal
Michigan's Lansing Board of Water and Light is hitting the market to finance a new natural gas plant as the utility looks to reduce its reliance on coal-fired power. The utility based in Lansing will price $325 million of bonds. About $10 million of bonds will be offered to retail buyers, followed by the institutional pricing.

Rhode Island Infrastructure Bank to Sell Drinking Water Bonds
Rhode Island Infrastructure Bank has a $42.3 million negotiated sale of fixed-rate safe drinking water bonds on tap. The sale will feature $32.2 million of safe drinking water revolving fund Series 2019A tax-exempt bonds to fund approved projects.

About the H2Ohio Clean Water Fund Bill
House Bill 7 would create a permanent source of funding for Ohio clean-water protections that are crucial to safeguarding Ohio's future and its abundant water-related jobs.HB 7 would create an H2Ohio Advisory Council to disburse up to $50 million a year in loans and grants from a trust fund. The bill would also create an H2Ohio Endowment Board to advise Ohio's treasurer in managing the trust fund, including whether the treasurer should sell bonds to help finance H2Ohio.

House Bill Boosts EPA Funding Amid Infrastructure Plan Fallout
The Fiscal Year 2020 House bill, which passed the Committee on a party-line vote and now heads to the full House of Representatives for a vote in June, includes a large increase for the EPA. Specifically, the House bill provides $1.784 billion for the Clean Water State Revolving Fund (CWSRF). This proposed increase is $90 million over the recent Fiscal Years.

P3 Act Would Remove the Volume Cap for Green Infrastructure PABs
Congressional legislation that would expand the use of private activity bonds to include so-called green bonds has been introduced. The legislation would allow state and local governments to issue tax-exempt PABs not subject to state volume caps if at least 95% or more of the net proceeds are used to develop, carry out, or certify approved green infrastructure projects.

Mansfield, OH to Issue $13M in Bonds for Water Meters
Mansfield will issue $13.3 million in bonds to help pay for a citywide water meter replacement project. About 20,000 residential and commercial water meters will be replaced over the next 16 to 18 months with new meters that will allow customers to monitor and track their water usage.

Upcoming Events
CDFA Summer School

CDFA Federal Financing Webinar Series: Opportunity Zones and Affordable Housing featuring HUD and USDA
June 27, 2019 - 2:00 PM Eastern
In this webinar, financing experts from the Departments of Housing and Urban Development and Agriculture will be on hand to provide an outline of how their respective financing and grant programs can drive investments into Opportunity Zones. CDFA will center the discussion around USDA Rural Development programs and HUD programs within the office of Community Planning and Development.

Energy Finance News

Huntingburg, IN to Add Solar Panels to Water Treatment Facility
The Herald | Jun. 12 | Revolving Loan Funds (RLFs) | Water Finance

Gardner City, MA Council OKs Borrowing $11M for Water Main Replacement
The Gardner News | Jun. 11 | Water Finance

Federal Agreement on Water Infrastructure Disaster Response Benefits NE
The Fence Post | Jun. 7 | Disaster Recovery & Relief | Infrastructure Finance | Revolving Loan Funds (RLFs) | State Finance Program | U.S. Environmental Protection Agency (EPA) | Water Finance

DE Clean Water Bill Faces Opposition Over Proposed Funding
Delaware Public Media | Jun. 7 | Bond Finance | Legislative | Water Finance

Flower Mound, TX Issues $30.5M in Bonds to Pay for Road, Park and Utility Projects
The Cross Timbers Gazette | Jun. 7 | Bond Finance | Infrastructure Finance | Water Finance

Mississippi River Towns Work to End Repeated Flooding
Radio Iowa | Jun. 6 | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | Water Finance

Rockland County, NY Approves Green Energy Financing Program
RC Business Journal | Jun. 6 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

Dripping Springs, TX Secures $43M for Wastewater System
Hays Free Press | Jun. 5 | Revolving Loan Funds (RLFs) | State Finance Program | Water Finance

CleanFund Gets $500M Commitment for C-PACE Financing
North Bay Business Journal | Jun. 4 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | Urban Development

Los Angeles, CA Tribes Fear a Parched Future
Reuters | Jun. 4 | Community Development | Economic Development | Tribal Finance | Water Finance

An Overview of Green Finance
National Law Review | Jun. 4 | Agriculture Finance | Energy Finance | Green Finance | Water Finance

Lorain, OH Approves PACE Financing for Building Improvements
The Morning Journal | Jun. 3 | Energy Finance | Green Finance | Legislative | Property Assessed Clean Energy (PACE)

Missoula, MT Council Approves $610K Loan to Developers for Environmental Cleanup
Missoula Current | Jun. 3 | Brownfield Financing | Redevelopment | Revolving Loan Funds (RLFs)

Carroll Electric Cooperative Qualifies for $263M USDA Loan
Talk Business | May. 30 | Access to Capital | Energy Finance | Rural Development | U.S. Dept. of Agriculture (USDA)

Waterloo, IA Approves $10M in Sewer Improvements
Waterloo-Cedar Falls Courier | May. 30 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

FL Must Prioritize Flood Mitigation Investments
Orlando Sentinel | May. 30 | Disaster Recovery & Relief | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | Resiliency | Water Finance

Winnebago, MN Gets $5.5M for Sewer Project
The Free Press | May. 29 | Urban Development | Water Finance

Collier County, FL Pulls Plug on Controversial PACE Program
Naples Daily News | May. 28 | Energy Finance | Property Assessed Clean Energy (PACE)

OH Craft Breweries Emerge as Leaders for Clean Energy
Energy News | May. 28 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

House Proposes LIFT America Act
U.S. House of Representatives | May. 22 | Brownfield Financing | Energy Finance | Federal | Infrastructure Finance | Legislative | Tribal Finance | Water Finance

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information visit CDFA.net or email info@cdfa.net

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300

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